Indemnification
/ɪnˌdɛm.nɪ.fɪˈkeɪ.ʃən/
Definitions
- (n.) A contractual obligation by one party to compensate another for certain damages or losses.
The contract includes an indemnification clause protecting the buyer from any third-party claims.
Related terms
See also
Commentary
Indemnification clauses should clearly specify the scope, including what losses are covered and any procedural requirements for claims.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.